Cantor Fitzgerald Reaffirms “Overweight” Rating for Amicus Therapeutics (NASDAQ:FOLD)

Amicus Therapeutics (NASDAQ:FOLD)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports. They currently have a $20.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 77.15% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company began coverage on Amicus Therapeutics in a report on Thursday, May 30th. They issued an “overweight” rating and a $18.00 price target for the company. Jefferies Financial Group began coverage on Amicus Therapeutics in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Amicus Therapeutics in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Amicus Therapeutics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Amicus Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Amicus Therapeutics Trading Up 2.6 %

NASDAQ:FOLD opened at $11.29 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of -23.04 and a beta of 0.69. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.75 and a quick ratio of 2.26. Amicus Therapeutics has a fifty-two week low of $9.02 and a fifty-two week high of $14.57. The stock’s 50-day moving average is $11.04 and its two-hundred day moving average is $10.71.

Amicus Therapeutics (NASDAQ:FOLD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, equities research analysts forecast that Amicus Therapeutics will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 6,100 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction of $61,000.00. Following the sale, the chief executive officer now owns 886,654 shares in the company, valued at approximately $8,866,540. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Bradley L. Campbell sold 6,100 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $10.00, for a total transaction of $61,000.00. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $8,866,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bradley L. Campbell sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.71, for a total value of $87,825.00. Following the transaction, the chief executive officer now directly owns 886,654 shares in the company, valued at $10,382,718.34. The disclosure for this sale can be found here. Insiders have sold a total of 21,100 shares of company stock worth $226,375 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in shares of Amicus Therapeutics during the 2nd quarter worth approximately $138,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Amicus Therapeutics by 49.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 71,210 shares of the biopharmaceutical company’s stock worth $706,000 after acquiring an additional 23,667 shares during the last quarter. Algert Global LLC acquired a new position in Amicus Therapeutics in the 2nd quarter valued at $879,000. The Manufacturers Life Insurance Company grew its holdings in Amicus Therapeutics by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 172,303 shares of the biopharmaceutical company’s stock valued at $1,709,000 after buying an additional 8,509 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Amicus Therapeutics by 1,758.9% in the 2nd quarter. Millennium Management LLC now owns 1,894,176 shares of the biopharmaceutical company’s stock valued at $18,790,000 after buying an additional 1,792,277 shares in the last quarter.

Amicus Therapeutics Company Profile

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.